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20 Cards in this Set
- Front
- Back
The price of a stove is s dollars. Pedro makes a 10% down payment for a two-year installment purchase. The monthly payment is m dollars. Express the finance charge algebraically. Simplify your answer. |
24m - (s - .1s) 24m - .9s |
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Mr Hut buys an entertainment system credenza for $2,445. on a six-month plan. He puts 5% down and make monthly payments of $400 per month for 6 months. a) How much money did he pay for a down payment b) What was finance charge if he pays the unit off in 6 months. |
a) (2445*.05)=$122.25 b) (400*6+122.25 - 2445)=$77.25 |
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The Star Pawnshop will lend up to 45% of the value of a borrower's collateral. Ryan want to use $4,000 worth of jewelry as collateral for a loan. What is the maximum amount that he could borrow? |
$1,800 |
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What is the total interest on a 15-year loan, 4.98% loan with a principal of $40,000 |
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a) Ms Fox daily balances for the past billing period are given below. Find Ms. Fox's average daily balance. b) If her interest rate is 11.3% find the finance charge for this month. 10 days - $987.65 3 days - $1244.43 8 days = $244.43 9 days = 530.00 |
a) $677.84 b) (677.84)(.113/12) = $6.38 |
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The average daily balance for Pete's credit card last month was a dollars. The finance charge was f dollars. Express the APR algebraically. |
12f/a |
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Tommie's credit rating was lowered and the credit card company raised her APR from 18% to 25.2%. If her average daily balance this month is $8,237, what is the increase in this month's finance charge due to the higher APR? |
$49.42 |
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$1,145.57 |
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Lizzy has a credit line of $9,000. The following was reported on her last credit statement: Previous Balance = $6,500.56 Payments/Credits = $5,200.00 Transactions = $978.45 Late Charge = $20.00 Finance Charge = $12.88 What is her available credit balance? |
$6,688.11 |
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Sheila's periodic rate is 2.41%. What is her APR? |
28.92% |
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$29,871 |
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x = 5 |
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x = 1/2 |
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Solve for the variable (round to the nearest hundredths: x = ln 4.2 |
x = 1.44 |
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Solve for the variable (round to the nearest hundredths. ln x = 1.6 |
x = 4.95 |